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Gold, Silver Futures Head for Longest Rally Since August

Gold and silver futures headed for the longest rallies since August as economic concerns boosted demand for the metals as alternative investments.

Data on Feb. 7 showed U.S. payrolls rose less than forecast in January, pushing the dollarto a three-week low against a basket of 10 currencies. The Federal Reserve said Jan. 29 it will trim monthly bond buying by another $10 billion with the pace of cuts depending on gains in the economy.

Gold has climbed 6 percent this year amid currency turmoil in emerging markets, while about $1.63 trillion has been erased from the value of global equity markets. The metal rose 70 percent from December 2008 to June 2011 as the Fed pumped more than $2 trillion into the financial system. Janet Yellen, the new chairman, will deliver her first testimony to Congress tomorrow.

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